The story

The United States is significantly overhauling Bush-era plans for a missile defense shield in Europe, based partly on the latest analysis of Iran's offensive capabilities, President Barack Obama said Thursday.

The "new missile defense architecture in Europe" will be ready faster, work with existing technology and provide better missile defense than the program proposed by former President George W. Bush, Obama said.

Obama said the change of gears was based on an "updated intelligence assessment" about Iran's ability to hit Europe with missiles. Read full article »

CNN's Suzanne Malveaux and Barbara Starr in Washington, Per Nyberg in London, England, Matthew Chance and Michael Sefanov in Moscow, Russia, and Richard Roth at the United Nations contributed to this report.